Nikolay Stepanov on The UK Bribery Act

Nikolay Stepanov, partner in Muranov, Chernyakov & Partners, on The UK Bribery Act: the law may become one of the most "fertile" acts in its influence on practice.

Nikolay Stepanov

Muranov, Chernyakov & Partners
+7 495 783-74-50

The UK Bribery Act 2010 has set business, whether British or working in the UK, the need to comply with this law.

According to the law a company is responsible for corruption committed by persons acting in the interest of that company unless it can prove that it has taken adequate measures to prevent corruption. The British government is ready to assist businesses in designing such measures by issuing specific guidelines on combating corruption.

The implementation of practices prescribed by such guidelines requires joint efforts of legal, administrative and

other departments of the company.

As in other complex legal projects, the development of anti-corruption procedures and due diligence of contractual relations with other companies may require the assistance of third-party legal advisers. No wonder that many law firms have met the UK Bribery Act with numerous representations and demonstrated willingness to provide advice to businesses in this area.

Such consultations (as well as advice on the provisions of the UK Bribery Act) between businesses and lawyers are frequent. An important role, of course, is played by British experts and lawyers in Russian offices of British companies.

The UK Bribery Act may become one of the most "fertile" laws in its influence on practice. The application of the act by the courts and law enforcement agencies of Great Britain will be giving lawyers new grounds for advice and update of anti-corruption procedures.

Muranov, Chernyakov & Partners